According to Cointelegraph, online banking platform SoFi Technologies has announced its return to the cryptocurrency market and the launch of 'blockchain-driven international remittances.' The company had exited the market in November 2023.
SoFi customers will be able to buy, sell, and hold crypto assets in their accounts, and the company plans to expand into stablecoin products and add crypto lending features. SoFi CEO Anthony Noto expressed excitement about blockchain and crypto innovations.
Under the Trump administration, regulations were loosened, stablecoin legislation is advancing in Congress, and the Federal Reserve has eliminated the 'reputational risk' review for banks, which may make it easier for crypto companies to partner with banks.